Netflix Does it Again: Heads Up for the 2nd Straight Day

The Hourly View for Netflix

  • Currently, NFLX’s price is up $0.7 (0.39%) from the hour prior.
  • This is the 2nd hour in a row Netflix has seen its price head up.
  • Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Netflix. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Netflix’s hourly price chart is shown below.

NFLX

The Daily View for Netflix

  • Currently, NFLX’s price is up $5.9 (3.39%) from the day prior.
  • This is the 2nd day in a row Netflix has seen its price head up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
  • The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
  • Divergence between NFLX’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in NFLX’s price.

Below is a daily price chart of Netflix.

NFLX

Featured Netflix Idea From TradingView

Below is a trading comment entitled Daily cycles indicate interim low for Netflix you may find interesting:

The daily dominant cycle analysis indicated a possible interim low and showing a positive phase ahead until the summer period for Netflix NFLX. We can detect two dominant cycles with a length of 211 and 289 days. Bo…

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